adelriosantiago

The long-awaited SPY correction is here

AMEX:SPY   SPDR S&P 500 ETF TRUST
The SPY finally had its long-awaited correction with a 2.12 percent drop last Friday (see https://www.reuters.com/article/us-usa-s...).

In this graph, both the yolk and white are based on short and mid term support and resistance levels. I'm expecting the price to travel along the yolk, breaking out through A, and finally breaking through B. In both scenarios I'm expecting a sideways/bearish movement for the next days.

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"Letting losses run is the most serious mistake made by most investors." - William O’Neil
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